Florida Sheriff told by the court to return over $700k seized crypto
The post Florida Sheriff told by the court to return over $700k seized crypto appeared on BitcoinEthereumNews.com. Law enforcement authorities in Volusia County, Florida, have been told by the court to return over $700,000 in cryptocurrency and paid legal fees. The federal officers improperly handled the seizure of assets from a European Union-licensed brokerage firm, according to a public statement issued Tuesday by the Sammis Law Firm. The law firm mentioned that the incident involved a $20,000 fraud investigation that began in Waupaca County, Wisconsin. Law enforcement authorities tracked the fraud proceeds to a Kraken crypto exchange account belonging to a legitimate brokerage business. Despite the company’s full cooperation and transparency throughout the investigation, the Kraken account was frozen on March 28, 2025. At the time of the freeze, the account held over $450,000 in crypto, an amount that rose in value to more than $700,000 in the following weeks. On April 9, the Volusia County Sheriff’s Office secured a sealed seizure warrant instructing Kraken to liquidate 1.19121 BTC into US dollars and transfer the proceeds to a law enforcement-controlled wallet. Client tries to clarify mistaken identity In the days that followed, the brokerage attempted to obtain more details from Kraken about the conditions of the account freeze. On April 3, 2025, Kraken finally confirmed it was frozen due to a transaction ID flagged by Volusia County Detective Kincaid. The client used this information to identify the customer linked to the transaction and sent documentation to authorities to assist in identifying the real perpetrator of the fraud. On April 10, the brokerage provided additional corporate records and structural details to support its case. Detective Kincaid listed the specific BTC transaction ID that was the subject of concern and issued a copy of a Bitcoin purchase slip for 0.16196522 BTC, valued at $20,000, supposedly tied to the fraud. However, the transaction initially flagged and traced to the client’s…
The post Florida Sheriff told by the court to return over $700k seized crypto appeared on BitcoinEthereumNews.com.
Law enforcement authorities in Volusia County, Florida, have been told by the court to return over $700,000 in cryptocurrency and paid legal fees. The federal officers improperly handled the seizure of assets from a European Union-licensed brokerage firm, according to a public statement issued Tuesday by the Sammis Law Firm. The law firm mentioned that the incident involved a $20,000 fraud investigation that began in Waupaca County, Wisconsin. Law enforcement authorities tracked the fraud proceeds to a Kraken crypto exchange account belonging to a legitimate brokerage business. Despite the company’s full cooperation and transparency throughout the investigation, the Kraken account was frozen on March 28, 2025. At the time of the freeze, the account held over $450,000 in crypto, an amount that rose in value to more than $700,000 in the following weeks. On April 9, the Volusia County Sheriff’s Office secured a sealed seizure warrant instructing Kraken to liquidate 1.19121 BTC into US dollars and transfer the proceeds to a law enforcement-controlled wallet. Client tries to clarify mistaken identity In the days that followed, the brokerage attempted to obtain more details from Kraken about the conditions of the account freeze. On April 3, 2025, Kraken finally confirmed it was frozen due to a transaction ID flagged by Volusia County Detective Kincaid. The client used this information to identify the customer linked to the transaction and sent documentation to authorities to assist in identifying the real perpetrator of the fraud. On April 10, the brokerage provided additional corporate records and structural details to support its case. Detective Kincaid listed the specific BTC transaction ID that was the subject of concern and issued a copy of a Bitcoin purchase slip for 0.16196522 BTC, valued at $20,000, supposedly tied to the fraud. However, the transaction initially flagged and traced to the client’s…
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